Burger King 2013 Annual Report Download - page 27

Table of Contents

Although we paid four cash dividends in 2013 and our board of directors recently declared a cash dividend for the first quarter of 2014, any future
dividends will be determined at the discretion of our board of directors and will depend upon results of operations, financial condition, contractual
restrictions, including agreements governing our debt and any future indebtedness we may incur, restrictions imposed by applicable law and other factors our
board of directors deems relevant. Realization of a gain on an investment in our common stock will depend on the appreciation of the price of our common
stock, which may never occur.

We are a holding company that does not conduct any business operations of our own. As a result, we are largely dependent upon cash dividends and
distributions and other transfers from our subsidiaries to make dividend payments on our common stock. The amounts available to us to pay cash dividends
may be restricted by law, regulation or any debt agreements entered into by our subsidiaries. The terms of our debt agreements will limit our ability to pay cash
dividends. In addition, we cannot assure you that the agreements governing any future indebtedness of us or our subsidiaries, or applicable laws or
regulations, will permit us to pay dividends on our common stock or otherwise adhere to any dividend policy we may adopt in the future.

None.

Our global restaurant support center and U.S. headquarters is located in Miami, Florida and consists of approximately 213,000 square feet which we
lease. We extended the Miami lease for our global restaurant support center in May 2008 through September 2018 with an option to renew for one five-year
period. We lease properties for our EMEA headquarters in Zug, Switzerland and our APAC headquarters in Singapore. We also lease additional support offices
in Madrid, Spain and Slough, United Kingdom. We believe that our existing headquarters and other leased and owned facilities are adequate to meet our
current requirements.
The following table presents information regarding our restaurant properties as of December 31, 2013:



 




 

Company restaurants 15 22 15 37 52
Franchisee-operated properties 737 498 610 1,108 1,845
Non-operating restaurant locations 36 6 8 14 50
Offices and other — — 7 7 7
Total 788 526 640 1,166 1,954

Company restaurants — — — — —
Franchisee-operated properties 19 1 99 100 119
Non-operating restaurant locations 2 — 2 2 4
Offices and other 1 — 5 5 6
Total 22 1 106 107 129
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Source: Burger King Worldwide, Inc., 10-K, February 21, 2014 Powered by Morningstar® Document Research℠
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